Interim Result for the six month period ended 31 March 2018

www.gentrack.com
Appendix 1
30 May 2018
Gentrack Group Limited (GTK)
NZ Company number 3768390
This document covers Gentrack Group Limited’s unaudited financial results for the 6 months ended 31
March 2018.
Gentrack Group Limited – Results for announcement to the market
Reporting period 6 months to 31 March 2018
Previous reporting period 6 months to 31 March 2017
Amount
NZ $’000
Percentage
Change
Revenues from ordinary activities 51,977 Up 79.6%
Profit from ordinary activities after tax
attributable to security holders
8,364

Up 50.4%
Net profit attributable to security
holders
8,364

Up 50.4%
Underlying EBITDA* 15,898 Up 79.8%
*Underlying EBITDA is a non-GAAP profit measure that is equal to “profit before depreciation, amortisation,
financing, non-operating expenses and tax”.

Interim/Final Dividend Amount per Security

Imputed amount per Security
Interim dividend 5.00cps 1.9444cps
Record date 18 June 2018
Dividend payment date 25 June 2018
For non-tax residents with a shareholding of less than 10%, a supplementary dividend will be available to
offset NZ NRWT.

Dividends during the year
Amount per
security
NZ Imputation
credit per
security
Supplementary
Dividend per
security
Date paid/ payable
2018 Interim dividend 5.00cps 1.9444cps 0.8824cps 25 June 2018
2017 Final dividend 8.50cps 3.3056cps 1.5000cps 20 December 2017

www.gentrack.com
Net tangible assets per share decreased to -NZ$0.53 per share (2017: NZ$0.62 per share).
Commentary on results
For commentary on the results please refer to the investor presentation and media release attached.
Financial Information
This Appendix 1 should be read in conjunction with the unaudited financial statements for the 6 months
ended 31 March 2018 as contained in the interim report attached.
The financial statements have been prepared in accordance with New Zealand Generally Accepted
Accounting Practice. They comply with New Zealand Equivalents to International Financial Reporting
Standards (‘NZ IFRS’).
This report is based on financial statements which have been reviewed.

---

APPENDIX 7 – NZSX Listing Rules
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EMAIL: announce@nzx.com
Notice of event affecting securities
1
Gentrack Group Limited
Jon KershawDirectors' resolution
$0.050000
Not applicable
Ordinary SharesNZGTKE0002S9
$
Enter N/A if not
applicable
In dollars and cents
Retained earnings
New Zealand dollars
$0.003472$0.019444
$0.008824
$4,184,862.70
Date Payable
25 June, 2018
$$0.002143
18 June, 201825 June, 2018

---

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751
MARKET ANNOUNCEMENT

30 May 2018
Gentrack revenue and profit up 80% in results to 31 March 2018
Gentrack Group Limited (NZX/ASX: GTK), a leading provider of software solutions for utilities
and airports, today released its interim financial results to 31 March 2018.
Highlights
• Revenue $52m - up 80% on H1 FY17
• EBITDA
1
$15.9m - up 80% on H1 FY17
• NPAT $8.4m - up 50% on H1 FY17
• Interim Dividend of 5.0cps declared
We are pleased to report continued profitable growth for the half year ended 31 March 2018
(‘H1 FY18’). First half revenues of $52.0m and EBITDA of $15.9m were both up 80% on the
same period last year. Net profit after tax of $8.4m was up 50%.
The acquisitions completed in April and May of 2017 (Junifer, Blip, CA+) have contributed to
the result and we have made good progress with the integration of these businesses into the
Group.
As the acquisitions did not contribute to the prior comparative period H1 FY17, our
commentary also includes comparisons to H2 FY17 which is a more relevant benchmark for the
Group’s H1 FY18 performance.
Comparing the first half performance to the second half of last year, revenues increased by
12%, EBITDA increased by 6%, and net profit after tax increased by 34%.
New projects with utilities and airports in the UK and Europe contributed to organic growth in
the period. Growth in the UK has continued with revenue from the region up 314% on the
same period last year, while projects in regions outside of the UK, Australia and New Zealand
delivered revenues up 61% on H1 FY17. A comparison to H2 FY17 showed an increase of 60%
for the UK, and a decrease of 41% for regions outside of the UK, Australia and New Zealand.
Recurring revenues from annual fees and support services continued an upwards trend
recording an 89% increase on H1 FY17, while revenues from licences and project services were
up 349% and 35% respectively. Contractually recurring annual fees have increased as a
percentage of total revenue to 33% compared to 28% six months ago.
To support new projects and the ongoing product transformation activities across the
business, people numbers have steadily increased, up 14% during the half year, and up 70% on
the same period last year.
Utilities revenues and EBITDA climbed 65% and 67% respectively for the half year, driven by
significant contributions from the UK operations and ongoing smart meter related projects in
Australia. A comparison to H2 FY17, showed revenue and EBITDA increases of 11% and 3%
respectively from Gentrack’s global utilities business.
First half revenues from Veovo, Gentrack’s global airport solutions division, also recorded
increases, up 192% on the same period last year and 17% on H2 FY17. EBITDA was increased

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751
by 178% compared to the same period last year, and by 19% from H2 FY17. New projects that
commenced at Belfast International Airport and Ports of Jersey, along with ongoing solution
implementations in Greenland, Brisbane and Schiphol Airports, all contributed to a strong first
half result.
We are investing in the development of pre-configured Market Ready Solutions for our key
utility growth markets (UK, Australia, NZ and Singapore). This enables us to deliver Software as
a Service projects quicker with lower risk and increases our mix of recurring revenue. We have
capitalised development costs of $1.6m in the period; increased from $0.9m in H2 FY17,
reflecting the long-term returns expected from this initiative.
Priorities for the second half of FY18 include progressing market growth opportunities in the
UK/European, Australasian and South East Asian markets, further innovation through our
services and solutions which allows our customers to provide the lowest cost to serve models
and best customer experience, and transforming our business operations to ensure we always
anticipate and deliver to the needs of our customers.
The board is pleased to declare an interim dividend of 5.0cps, representing an increase of 19%
to interim dividend for the same period last year.
We expect second half EBITDA performance to be broadly in line with the first half, noting that
the timing of key contract wins and project milestones are subject to uncertainty. We have a
strong pipeline of opportunities in all markets and current performance trends are in line with
our long term 15% CAGR EBITDA growth objective.
All figures are presented in NZ$.
ENDS
*******
Contact:
Ian Black, CEO

Aaron Baker, Marketing and Communications Director

+64 9 966 6090
*******

Interim Financial Results Briefing
Gentrack Group Limited (NZX/ASX: GTK) will host an investor briefing on Wednesday 30 May
2018 at 10:30am NZT / 8:30am AEST (duration 1 hour) to review its interim financial results for
the half year ended 31 March 2018.
This investor briefing includes both audio conference and digital participation options to
enable you to view the presentation online and to dial into the conference call system to listen
to the briefing.
The audio recording from the briefing will be made available in the Gentrack Investor Centre
(https://www.gentrack.com/investors) following the call.

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751
Audio – Participant Access Instructions
Please join the briefing 5-10 minutes prior to the start time. You will be asked to provide the
conference name and confirmation code below:
- Name: GTK Investor Briefing – Interim Results (H1 FY18)
- Confirmation Code: 7615557
(Following entry, please provide the required details when prompted)
The dial-in numbers for available locations are listed below.
- Australia Tollfree/Freephone 1 800 573 793
- Australia, Brisbane: Local +61 (0)7 3105 0938
- Australia, Melbourne Local +61 (0)3 8317 0932
- Australia, Sydney Local +61 (0)2 9193 3706
- Hong Kong Tollfree/Freephone 800 961 105
- Hong Kong Local +852 3008 1527
- New Zealand Tollfree/Freephone 0800 423 970
- New Zealand, AKL Local +64 (0) 9 9133 622
- Singapore Tollfree/Freephone 800 186 5107
- Singapore Local +65 6320 9025
- United Kingdom Tollfree/Freephone 0800 358 6377
- United Kingdom Local +44 (0)330 336 9105
- United States, LA Local +1 323-794-2093
- United States/Canada Tollfree/Freephone 866-548-4713
Slide Assist Instructions
To view the investor briefing presentation online, please visit the following link and access the
briefing using your name, company, email and phone. For audio, you will still need to dial into
the conference call system.
https://slideassist.webcasts.com/starthere.jsp?ei=1193241
Questions can be submitted online via the Slide Assist platform or verbally via the audio call
system when prompted. Personal information provided for the purpose of registration will not
be disclosed to any third parties and will only be used by Gentrack to manage participant
interaction and questions via the Slide Assist platform.
*******
About Gentrack
Gentrack provides essential software for essential services, pairing powerful platforms
with deep market knowledge to help utilities and airports lower service costs, foster
innovation and confidently navigate market reform. It employs over 500 people in
offices across New Zealand, Australia, the UK and Europe and services over 200 utility
and airport sites in 20 countries with its leading solutions for utilities - Gentrack Velocity
and Junifer, and for airports under the Veovo brand including Airport 20/20, BlipTrack
and Concessionaire Analyzer+.

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751
Velocity and Junifer are leading billing and customer management solutions providing a
full range of proven capabilities along with hosted and managed services options for
new entrant energy and water suppliers, and larger utilities in competitive markets
where flexibility, uniqueness and compliance are essential.
More information: www.gentrack.com

Veovo combines Gentrack’s Airport 20/20, BlipTrack and Concessionaire Analyzer+
software to unlock operational, revenue, concession and passenger insights across the
airport ecosystem. The Veovo Predictive Collaboration Platform enables airports to
operate more efficiently, uncover new growth opportunities and deliver outstanding
guest experiences.
More information: www.veovo.com

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751
Appendix
NON-GAAP PROFIT REPORTING MEASURES
Gentrack’s standard profit measure prepared under New Zealand GAAP is net profit. Gentrack
has used non-GAAP profit measures when discussing financial performance in this document.
The directors and management believe that these measures provide useful information as
they are used internally to evaluate performance of business units, to establish operational
goals and to allocate resources.
Non-GAAP profit measures are not prepared in accordance with NZ IFRS (New Zealand
International Financial Reporting Standards) and are not uniformly defined, therefore the non-
GAAP profit measures reported in this document may not be comparable with those that other
companies report and should not be viewed in isolation or considered as a substitute for
measures reported by Gentrack in accordance with NZ IFRS.
Definitions
1
EBITDA: Earnings before net finance expense, tax, depreciation and amortisation and other
non-operating expenses. Non-operating expenses are costs relating to acquisition.

GAAP to non-GAAP profit reconciliation


6 Months 6 Months 12 Months

31-Mar-18 31-Mar-17 30-Sep-17

$000s $000s $000s
Reported net profit for the period (GAAP) 8,364 5,562 11,825
Add back: net finance expense
2
1,475 (495) 1,152
Add back: income tax expense
2
3,112 2,091 5,611
Add back: depreciation and amortisation
2
3,014 1,287 3,991
Add back: other non-operating expenses
2
(67) 395 1,325
EBITDA 15,898 8,840 23,904

2
Extracted from unaudited interim financial statements and audited full year financial
statements.

---

GENTRACK GROUP LIMITED
INTERIM REPORT
FOR THE SIX MONTHS
ENDED 31 MARCH
2018

5 Chairman and Chief Executive’s Commentary
7 Interim Report
8 Statement of Comprehensive Income
9 Statement of Financial Position
10 Statement of Changes in Equity
11 Statement of Cash Flows
12 Notes to the Condensed Financial Statements
18 Independent Review Report
20 Corporate Directory
CONTENTS

4 / GENTRACK INTERIM REPORT

GENTRACK INTERIM REPORT / 5
DEAR SHAREHOLDER,
We are pleased to report continued profitable growth for the half year
ended 31 March 2018 (‘H1 FY18’). First half revenues of $52.0m and
EBITDA of $15.9m were both up 80% on the same period last year. Net
profit after tax of $8.4m was up 50%.
The acquisitions completed in April and May of 2017 (Junifer, Blip, CA+)
have contributed to the result and we have made good progress with the
integration of these businesses into the Group.
As the acquisitions did not contribute to the prior comparative period H1
FY17, our commentary also includes comparisons to H2 FY17 which is a
more relevant benchmark for the Group’s H1 FY18 performance.
Comparing the first half performance to the second half of last year,
revenues increased by 12%, EBITDA increased by 6%, and net profit after
tax increased by 34%.
New projects with utilities and airports in the UK and Europe contributed to
organic growth in the period. Growth in the UK has continued with
revenue from the region up 314% on the same period last year, while
projects in regions outside of the UK, Australia and New Zealand delivered
revenues up 61% on H1 FY17. A comparison to H2 FY17 showed an
increase of 60% for the UK, and a decrease of 41% for regions outside of
the UK, Australia and New Zealand.
Recurring revenues from annual fees and support services continued an
upwards trend recording an 89% increase on H1 FY17, while revenues
from licences and project services were up 349% and 35% respectively.
Contractually recurring annual fees have increased as a percentage of
total revenue to 33% compared to 28% six months ago.
To support new projects and the ongoing product transformation
activities across the business, people numbers have steadily
increased, up 14% during the half year, and up 70% on the same
period last year.
Utilities revenues and EBITDA climbed 65% and 67% respectively for the
half year, driven by significant contributions from the UK operations and
ongoing smart meter related projects in Australia. A comparison to H2
FY17, showed revenue and EBITDA increases of 11% and 3% respectively
from Gentrack’s global utilities business.
First half revenues from Veovo, Gentrack’s global airport solutions division,
also recorded increases, up 192% on the same period last year and 17% on
H2 FY17. EBITDA was increased by 178% compared to the same period last
year, and by 19% from H2 FY17. New projects that commenced at Belfast
International Airport and Ports of Jersey, along with ongoing solution
implementations in Greenland, Brisbane and Schiphol Airports, all
contributed to a strong first half result.
We are investing in the development of pre-configured Market Ready
Solutions for our key utility growth markets (UK, Australia, NZ and
Singapore). This enables us to deliver Software as a Service projects
quicker with lower risk and increases our mix of recurring revenue. We
have capitalised development costs of $1.6m in the period; increased from
$0.9m in H2 FY17, reflecting the long term returns expected from this
initiative.
Priorities for the second half of FY18 include progressing market growth
opportunities in the UK/European, Australasian and South East Asian
markets, further innovation through our services and solutions which allows
our customers to provide the lowest cost to serve models and best
customer experience, and transforming our business operations to ensure
we always anticipate and deliver to the needs of our customers.
Your b
oard is pleased to declare a H1 FY18 dividend of 5.0cps, representing
an increase of 19% to interim dividend for the same period last year.
John Clifford Ian Black
Chairman Chief Executive
CHAIRMAN AND
CHIEF EXECUTIVE’S REPORT

GENTRACK INTERIM REPORT / 7
INTERIM REPORT
MARCH 2018

8 / GENTRACK INTERIM REPORT
CONDENSED INTERIM CONSOLIDATED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 31 MARCH 2018
$000NOTES6 MONTHS
UNAUDITED GROUP
6 MONTHS
UNAUDITED GROUP
12 MONTHS
AUDITED GROUP
31 MARCH 201831 MARCH 201730 SEPTEMBER 2017
Revenue351,97728,94475,181
Expenditure4(36,079)(20,104)(51,277)
Profit before depreciation, amortisation,
non-operating expenses, financing and tax
15,8988,84023,904
Depreciation and amortisation(3,014)(1,287)(3,991)
Acquisition related income/(costs)567(395)(1,325)
Profit before financing and tax12,9517,15818,588
Finance income949578
Finance expense(1,484)-.(1,230)
Net finance (expense)/income
6
(1,
475)495(1,152)
Profit before tax11,4767,65317,436
Income tax expense(3,112)(2,091)(5,611)
Profit attributable to the shareholders of the
company
8,3645,56211,825
OTHER COMPREHENSIVE INCOME
Translation of international subsidiaries3,301943,580
Total comprehensive income for the period11,6655,65615,405
EARNINGS PER SHARE FROM TOTAL COMPREHENSIVE
INCOME (EXPRESSED IN DOLLARS PER SHARE)
Basic and diluted earnings per share$0.10$0.08$0.15
WEIGHTED AVERAGE NUMBER OF ORDINARY
SHARES ISSUED
Basic1183,69772,80478,258
Diluted1384,00473,03378,486
The above Statement of Comprehensive Income should be read in conjunction with the accompanying notes.

GENTRACK INTERIM REPORT / 9
CONDENSED INTERIM CONSOLIDATED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2018
The above Statement of Financial Position should be read in conjunction with the accompanying notes.
$000NOTES6 MONTHS
UNAUDITED GROUP
6 MONTHS
UNAUDITED GROUP
12 MONTHS
AUDITED GROUP
31 MARCH 201831 MARCH 201730 SEPTEMBER 2017
CURRENT ASSETS
Cash and cash equivalents77,10679,2179,727
Trade and other receivables8
28,84412,97621,713
Inventory451-.336
Income tax in advance-.1,616-.
Total current assets
36,40193,80931,776
NON-CURRENT ASSETS
Property, plant and equipment3,5531,0322,524
Goodwill125,75840,277122,212
Intangibles42,09315,35241,958
Deferred tax asset4,7311,5652,888
Total non-current assets176,13558,226169,582
Total assets
212,536152,035201,358
CURRENT LIABILITIES
Trade payables and accruals9
6,1271,5534,979
Deferred revenues
11,0737,1259,488
GST payable1,1807961,434
Financial liabilities365-.527
Employee entitlements4,7342,9224,737
Income tax payable2,628-.2,583
Total current liabilities
26,10712,39623,748
NON-CURRENT LIABILITIES
Bank loans1044,68130,27444,989
Trade payables and accruals9
4,062-.693
Financial liabilities6,388-.5,964
Employee entitlements385323361
Deferred tax liabilities7,6702,4287,076
Total non-current liabilities
63,18633,02559,083
Total liabilities
89,2 9345,42182,831
Net assets123,243106,614118,527
EQUITY
Share capital11101,49095,908101,490
Share based payment reserve404142239
Foreign currency translation reserve7,1213343,820
Retained earnings14,22810,23012,978
Total equity123,243106,614118,527

GROUP (UNAUDITED TO 31 MARCH 2017)
($000)NOTES
SHARE
CAPITAL
SHARE BASED
PAYMENT
RESERVE
RETAINED
EARNINGS
TRANSLATION
RESERVE
TOTAL
EQUITY
Balance as at 1 October 201660,3966110,26624070,963
Profit attributable to the shareholders
of the company
-.-.5,562-.5,562
Other comprehensive income-.-.-.9494
Total comprehensive income for the
period, net of tax-.-.5,562945,656
TRANSACTION WITH OWNERS
Issue of capital1135,512-.-.-.35,512
Dividend paid17-.-.(5,598)-.(5,598)
Share based payments-.81-.-.81
Balance at 31 March 201795,90814210,230334106,614
10 / GENTRACK INTERIM REPORT
CONDENSED INTERIM CONSOLIDATED
STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED 31 MARCH 2018
GROUP (UNAUDITED TO 31 MARCH 2018)
($000)NOTES
SHARE
CAPITAL
SHARE BASED
PAYMENT
RESERVE
RETAINED
EARNINGS
TRANSLATION
RESERVE
TOTAL
EQUITY
Balance as at 1 October 2017101,49023912,9783,820118,527
Profit attributable to the shareholders
of the company
-.-.8,364-.8,364
Other comprehensive income-.-.-.3,3013,301
Total comprehensive income for the
period, net of tax-.-.8,3643,30111,665
TRANSACTION WITH OWNERS
Dividend paid17-.-.(7,114)-.(7,114)
Share based payments-.165-.-.165
Balance at 31 March 2018101,49040414,2287,121123,243
The abo
ve Statement of Changes in Equity should be read in conjunction with the accompanying notes.
GROUP (AUDITED TO 30 SEPTEMBER 2017)
($000)NOTES
SHARE
CAPITAL
SHARE BASED
PAYMENT
RESERVE
RETAINED
EARNINGS
TRANSLATION
RESERVE
TOTAL
EQUITY
Balance as at 1 October 201660,3966110,26624070,963
Profit attributable to the shareholders
of the company-.-.11,825-.11,825
Other comprehensive income-.-.-.3,5803,580
Total comprehensive income for the
period, net of tax-.-.11,8253,58015,405
TRANSACTION WITH OWNERS
Issue of capital1141,094-.-.-.41,094
Dividends paid17-.-.(9,113)-.(9,113)
Share based payments-.178-.-.178
Balance at 30 September 2017101,49023912,9783,820118,527

GENTRACK INTERIM REPORT / 11
CONDENSED INTERIM CONSOLIDATED
STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED 31 MARCH 2018
The above Statement of Cash Flows should be read in conjunction with the accompanying notes.
$000NOTES6 MONTHS
UNAUDITED GROUP
6 MONTHS
UNAUDITED GROUP
12 MONTHS
AUDITED GROUP
31 MARCH 201831 MARCH 201730 SEPTEMBER 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers47,10225,01369,169
Payments to suppliers and employees(33,618)(20,936)(50,302)
Income tax paid(4,566)(3,909)(4,808)
Net cash inflow from operating activities
18
8,91816814,059
CASH FLOWS FROM INVESTING ACTIVITIES
Property, plant and equipment(1,615)(230)(1,268)
Proceeds from sale of property, plant and equipment260-.-.
Purchase of intangibles(360)(28)(920)
Acquisition of business, net of cash-.(395)(77,636)
Net cash outflow from investing activities(1,715)(653)(79,824)
CASH FLOWS FROM FINANCING ACTIVITIES
Issue of ordinary shares11-.35,51235,512
Costs in relation to issue of ordinary shares-.-.(110)
Drawdown of borrowings10-.30,27442,481
Repayment of borrowings(2,174)-.(11,852)
Interest (paid)/received(551)70(493)
Dividends paid17(7,114)(5,598)(9,113)
Net cash (outflow)/inflow from financing activities(9,839)60,25856,425
Net (decrease)/increase in cash held(2,636)59,773(9,340)
Foreign currency translation adjustment15626249
Cash at beginning of the financial period9,72718,81818,818
Closing cash and cash equivalents7,10679,2179,727

12 / GENTRACK INTERIM REPORT
NOTES TO THE CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 MARCH 2018
1.BASIS OF PRESENTATION AND ACCOUNTING POLICIES
These unaudited consolidated condensed interim financial statements of Gentrack Group Limited (the Company) and its subsidiaries (together
“the Group”) have been prepared in accordance with the New Zealand equivalent of IAS34: Interim Financial Reporting and New Zealand
Generally Accepted Accounting Practice (“NZ GAAP”).
The Group is a profit-oriented entity for financial reporting purposes.
The Company is a FMC entity for the purposes of the Financial Reporting Act 2013 and Financial Markets Conduct Act 2013 and is listed on the
New Zealand Stock Exchange (NZX) and the Australian Securities Exchange (ASX).
These unaudited consolidated condensed interim financial statements of the Group for the six months ended 31 March 2018 have been prepared
using the same accounting policies and methods of computation as, and should be read in conjunction with, the financial statements and related
notes included in the Group’s Annual Report for the year ended 30 September 2017.
The same significant judgements, estimates and assumptions included in the notes to the financial statements in the Group’s Annual Report for
the year ended 30 September 2017 have been applied to these consolidated condensed interim financial statements.
Certain comparatives have been reclassified to ensure consistency with the current period.

GENTRACK INTERIM REPORT / 13
NOTES TO THE CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 MARCH 2018
2.OPERATING SEGMENTS
The Group currently operates in two business segments: utility billing software and airport management software. These segments have been
determined based on the reports reviewed by the Board to make strategic decisions.
The assets and liabilities of the Group are reported to and reviewed by the Chief Operating Decision Maker in total and are not allocated by
business segment. Therefore, operating segment assets and liabilities are not disclosed.
$000UTILITYAIRPORTTOTAL
GROUP — FOR THE SIX MONTHS ENDED 31 MARCH 2018 (UNAUDITED)
External revenue42,2479,73051,977
Total external expenditure(29,035)(7,044)(36,079)
Segment contribution13,2122,68615,898
Depreciation and amortisation-.-.(3,014)
Acquisition related income-.-.67
Net finance expense-.-.(1,475)
Income tax expense-.-.(3,112)
Profit attributable to the shareholders of the company
-.-.
8,364
GROUP — FOR THE SIX MONTHS ENDED 31 MARCH 2017 (UNAUDITED)
External revenue25,6153,32928,944
Total external expenditure(17,740)(2,364)(20,104)
Segment contribution7,8759658,840
Depreciation and amortisation-.-.(1,287)
Acquisition related costs-.-.(395)
Finance income-.-.495
Income tax expense-.-.(2,091)
Profit attributable to the shareholders of the company
-.-.
5,562
GROUP — FOR THE YEAR ENDED 30 SEPTEMBER 2017 (AUDITED)
External revenue63,52311,65875,181
Total expenditure(42,833)(8,444)(51,277)
Segment contribution20,6903,21423,904
Depreciation and amortisation-.-.(3,991)
Acquisition related costs-.-.(1,325)
Finance income-.-.78
Finance expense-.-.(1,230)
Income tax expense-.-.(5,611)
Profit attributable to the shareholders of the company
-.-.11,825
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
REVENUE BY DOMICILE OF ENTITY
Australia14,95214,31930,274
New Zealand9,1358,18018,397
United Kingdom23,5086,44523,126
Rest of World4,382-.3,384
51,97728,94475,181
REVENUE BY DOMICILE OF CUSTOMER
Australia16,72115,07933,258
New Zealand5,7215,65912,283
United Kingdom26,6926,44523,092
Rest of World2,8431,7616,548
51,97728,94475,181

NOTES TO THE CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 MARCH 2018
3.REVENUE
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
OPERATING REVENUE:
Recurring16,9447,69021,097
Non-recurring6,0791,3556,292
Professional services28,58719,67247,153
51,61028,71774,542
OTHER INCOME:
Government grants367227639
51,97728,94475,181
4.EXPENDITURE
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
PROFIT BEFORE TAX INCLUDES THE FOLLOWING SPECIFIC EXPENSES:
Employee entitlements24,35514,22536,048
Employee entitlements - share based payment16581178
Capitalised development(1,585)-.(892)
Superannuation costs1,0494371,295
Staff recruitment558227633
Third party customer-related costs2,6828813,079
Occupancy costs1,7457742,097
Travel related1,5926111,813
Advertising and marketing1,0406281,223
Consulting and subcontracting
2,3131,2133,309
Communication and office administration642321749
Doubtful debts203-.(36)
Directors’ fees212175371
Auditor's remuneration - audit and review fees
83
29247
Auditor’s remuneration - non-audit services
1
82 4686
Other operating expenses943
4561,077
Total expenditure36,07920,10451,277
5.NON-OPERATING EXPENSES
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
Income/(costs) relating to acquisitions67(395)(1,325)
67(395)(1,325)
In 2018 $67k of income relating to earn out provision adjustment net of costs were recorded at the end of March (30 September 2017:
$1,325k costs; 31 March 2017: $395k costs comprising legal and due diligence fees incurred in relation to the a cquisitions that occurred in
the year ended 30 September 2017).
1
Excluding amounts paid to auditor associated with acquisitions recorded in acquisition related income/(costs) of nil (31 March 2017:
$141k; 30 September 2017: $181k).
14 / GENTRACK INTERIM REPORT

GENTRACK INTERIM REPORT / 15
NOTES TO THE CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 MARCH 2018
6.NET FINANCE EXPENSE
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
FINANCE INCOME
Interest income97078
Foreign exchange gains-.425-.
949578
FINANCE EXPENSE
Interest expense(560)-.(572)
Interest paid - NPV discount(62)-.(51)
Foreign exchange losses(862)-.(607)
(1,484)
-.
(1,230)
Net finance cost(1,475)495.(1,152)
7.CASH AND CASH EQUIVALENTS
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
Bank balances7,10179,2129,723
Cash on hand554
7,10679,2179,727
Included in the bank balances at 31 March 2017 were the proceeds of the share issue described in Note 11 of $35.5m and the proceeds of
borrowings of $30.3m.
These funds were held in trust at 31 March 2017 for the acquisition of Junifer Systems Limited.
8.TRADE AND OTHER RECEIVABLES
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
Trade debtors21,9268,86515,909
Provision for doubtful debts(509)(121)(167)
Provision for warranty claims(15)(15)(15)
Work in progress/accrued revenue
4,9093,2154,182
Sundry receivables and prepayments2,5331,0321,804
28,84412,97621,713
9.TRADE PAYABLES AND ACCRUALS
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
Trade creditors4,5191,0143,188
Sundry accruals
1,6085391,791
6,1271,5534,979
NON-CURRENT
Lease incentive
4,062-.693
Lease incentives received are recognised as an integral part of the total lease expense, over the term of the lease. The lease incentive relates to
the
premises in Auckland and London.

16 / GENTRACK INTERIM REPORT
NOTES TO CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 MARCH 2018
10.BORROWING
The company has a secured NZ$50.5 million multi-currency 5 year term facility with ASB Bank Limited to provide additional funding as required
for acquisitions and general corporate purposes. This facility expires on 31 March 2022 and will be subject to renewal by negotiation.
The facility is secured by a general security agreement under which the bank has a security interest in all of the Group’s taxable assets. As at
31 March 2018, NZ$44.7 million has been drawn down. The remaining unutilised portion of the facility is NZ$5.8 million.
Covenants in place include a gearing ratio and interest cover covenant which are reported quarterly.
11.CAPITAL
000SHARES ISSUEDSHARE CAPITAL
6 MONTHS
UNAUDITED
GROUP
31 MARCH 2018
6 MONTHS
UNAUDITED
GROUP
31 MARCH 2017
12 MONTHS
AUDITED GROUP
30 SEPTEMBER
2017
6 MONTHS
UNAUDITED
GROUP
31 MARCH 2018
6 MONTHS
UNAUDITED
GROUP
31 MARCH 2017
12 MONTHS
AUDITED GROUP
30 SEPTEMBER
2017
Ordinary
Shares
83,69772,69972,699101,49060,39660,396
Issue of new
ordinary shares
-.9,53810,998-.35,51241,094
83,69782,23783,697101,49095,908101,490
12.RELATED PARTIES
IDENTITY OF RELATED PARTIES
The group has related party relationships with its subsidiaries which are listed in the Group’s Annual Report for the year ended 30 September 2017.
The related party transactions primarily consist of the purchase and sale of software products, provision of technical support, loan advances and
repayments, consultancy services and management charges on commercial terms.
Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity.
Key management personnel compensation comprised $1,919k for the period (30 September 2017: $3,867k ; 31 March 2017:$1,572k).
Directors fees comprised $212k for the period (30 September 2017: $371k; 31 March 2017: $175k).
13.EMPLOYEE SHARE SCHEME
During the period the Company allocated 78,040 unlisted performance rights for nil consideration to senior executives under the Gentrack Long
Term Incentive Scheme. Vesting is conditional on the completion of the necessary years’ service to the vesting date and performance goals over
the vesting period.
14.FINANCIAL RISK MANAGEMENT
FAIR VALUE MEASUREMENT
The carrying amounts of the Group’s financial assets and liabilities approximate to their fair value due to their short maturity periods or fixed rate nature.
15.CAPITAL COMMITMENTS
Capital Expenditure Commitments at 31 March 2018: $719k relating to office fitout costs in London (30 September 2017: $843k relating to relocating
to new premises in Auckland; 31 March 2017: Gentrack had signed a Sale and Purchase Agreement to purchase Junifer Systems Limited).
16.CONTINGENCIES
ASB New Zealand has provided the following guarantees on behalf of the Gentrack Group:
NZD260,994 (AUD245,700) to Australia and New Zealand Banking Group. This guarantee expires on 1 April 2018.
NZD75,000 to NZX Limited. This guarantee has no expiry date.
NZD175,059 (HKD994,528) to ANZ Hong Kong. This guarantee expires on 24 October 2019.
NZD2,124,495 (AUD2,000,000) to Australia and New Zealand Banking Group. This guarantee expires on 30 April 2018.
NZD61,855 (AUD58,230) to ANZ Trade and Supply Chain.
NZD130,497 (AUD122,850) to ASB. This guarantee is open ended.
NZD111,568 (AUD105,030) to Walsh and Company Investment Services Pty Ltd. This guarantee is open ended.
NZD66,850 (SGD63,441) to ASB. This guarantee expires on 31 December 2018.
NZD592,775 (AUD558,038) to ASB. This guarantee expires on 30 April 2020.

GENTRACK INTERIM REPORT / 17
$000UNAUDITED
31 MARCH 2018
UNAUDITED
31 MARCH 2017
AUDITED
30 SEPTEMBER 2017
(a) RECONCILIATION OF OPERATING CASH FLOWS WITH
REPORTING PROFIT AFTER TAX:
Profit after tax8,3645,56211,825
Add/(less) non-cash items
Deferred tax(1,469)764(808)
Doubtful debts(75)(36)
Loss on foreign exchange transactions86286
Share based payments165178
Net interest expense551494
Other non-cash (income)/expenses(149)(376)33
Depreciation and amortisation3,0141,2873,991
11,2637,23715,763
Add/(less) movements in other working capital
Decrease/(increase) in tax payable15(2,582)1,611
(Increase) in trade and other receivables(6,250)(3,033)(6,656)
(Decrease)/increase in GST payable(291)270933
Increase/(Decrease) in deferred revenue1,512(1,556)1,009
(Decrease)/increase in employee entitlements(14)(452)1,465
Increase/(decrease) in trade payables and accruals2,683(41)(66)
8,918(157)14,059
Items classified as investing activity
Net finance income-.(70)-.
Costs in relation to acquisitions-.395-.
Net cash inflow from operating activities8,91816814,059
(b) BANK FACILITIES:
Bank facility50,500-.50,500
Unused bank facility5,819-.5,511
NOTES TO CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 31 MARCH 2018
17.EVENTS AFTER THE BALANCE DATE
An interim dividend of $4,184,863 ($0.05 per share) was declared on 29 May 2018 for the six months ended 31 March 2018, and will be paid
on 25 June 2018.
18.RECONCILIATION OF OPERATING CASH FLOWS

Independent Review 
Report 
To the shareholders of Gentrack Group Limited 
Report on the interim consolidated financial statements 
Conclusion 
Based on our review, nothing has come to our attention 
that causes us to believe that the interim  consolidated 
financial statements on pages 8 to 17 do not:   
i.present fairly in all material respects the
Group’s financial position as at 31 March 2018
and its financial performance and cash flows
for the 6 month period ended on that date;
and
ii.comply with NZ IAS 34 Interim Financial
Reporting.
We have completed a review of the accompanying 
interim  consolidated financial statements which 
comprise: 
— the consolidated statement of financial position as
at 31 March 2018; 
— the consolidated  statements of comprehensive
income, changes in equity and cash flows for the 6 
month period then ended; and 
— notes, including a summary of significant
accounting policies and other explanatory 
information. 
Basis for conclusion 
A review of interim consolidated financial statements in accordance with NZ SRE 2410 Review of Financial Statements
Performed by the Independent Auditor of the Entity (“NZ SRE 2410”) is a limited assurance engagement. The auditor
performs procedures, consisting of making enquiries, primarily of persons responsible for financial and accounting
matters, and applying analytical and other review procedures.  
As the auditor of Gentrack Group Limited, NZ SRE 2410 requires that we comply with the ethical requirements relevant to
the audit of the annual financial statements.
Our firm has also provided other services to the group in relation to the audit of the Group`s components` standalone
financial statements, tax compliance, tax advisory and other assurance services. Subject t
o certain restrictions, partners
and employees of our firm may also deal with the group on normal terms within the ordinary course of trading activities of
the business of the group. These matters have not impaired our independence as reviewer of the group. The firm has no
other relationship with, or interest in, the group.
Use of this Independent Review Report 
This report is made solely to the shareholders as a body. Our review work has been undertaken so that we might state
to the shareholders those matters we are required to state to them in the Independent Review Report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the
shareholders as a body for our review work, this report, or any of the opinions we have formed.  
© 2018 KPMG, a New Zealand partnership and a member firm of the KPMG network of independent member 
firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. 

2
Responsibilities of the Directors for the interim consolidated financial statements 
The Directors, on behalf of the group, are responsible for: 
— the preparation and fair presentation of the interim  consolidated financial statements in accordance with NZ IAS 34
Interim Financial Reporting; 
— implementing necessary internal control to enable the preparation of an interim  consolidated financial statements
that is fairly presented and free from material misstatement, whether due to fraud or error; and 
— assessing the ability to continue as a going concern. This includes disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless they either intend to liquidate or to cease operations, 
or have no realistic alternative but to do so. 
  Auditor’s Responsibilities for the review of the interim consolidated financial 
statements 
Our responsibility is to express a conclusion on the interim financial statements based on our review. We conducted our
review in accordance with NZ SRE 2410. NZ SRE 2410 requires us to conclude whether anything has come to our attention
that causes us to believe that the interim financial statements are not prepared, in all material respects, in accordance with
NZ IAS 34 Interim Financial Reporting.
The procedures performed in a review are substantially less than those performed in an audit conducted in accordance
with International Standards on Auditing (New Zealand). Accordingly we do not express an audit opinion on these interim
consolidated financial statements.
This description forms part of our Independent Review Report. 
KPMG Auckland 
30 May 2018 

CORPORATE DIRECTORY
REGISTERED OFFICE
Gentrack Group Limited
17 Hargreaves Street, St Marys Bay, Auckland 1011,
New Zealand
Phone: +64 9 966 6090
Facsimile: +64 9 376 7223
Level 9, 390 St Kilda Road, Melbourne, VIC 3004
Australia
Phone: +61 3 9867 9100
Facsimile: +61 9867 9140
POSTAL ADDRESS
PO Box 3288, Shortland Street, Auckland 1140
New Zealand
NEW ZEALAND INCORPORATION NUMBER
3768390
AUSTRALIAN REGISTERED BODY NUMBER (ARBN)
169 195 751
DIRECTORS
John Clifford, Chairman
Andy
Coupe
James Docking
Nicholas Luckock*
Graham Shaw
Leigh Warren
*Nicholas Luckock was elected by shareholders at the Annual
Meeting on 28 February 2018 as a non-executive director
.
20 / GENTRACK INTERIM REPORT
COMPANY SECRETARY
Jon Kershaw
AUDITOR
KPMG
18 Viaduct Harbour Avenue, Auckland, 1140
Phone: +64 9 367 5800
Facsimile: +64 9 367 5875
LEGAL ADVISERS
BELL GULLY
BANKERS
ASB BANK LIMITED
ANZ LIMITED
HSBC PLC
SHARE REGISTRAR
NEW ZEALAND
LINK MARKET SERVICES LIMITED
Level 11, Deloitte Centre, 80 Queen Street, Auckland 1010
PO Box 91 976, Auckland 1142
Phone: +64 9 375 5998
Facsimile: +64 9 375 5990
Email: enquiries@linkmarketservices.com
AUSTRALIA
LINK MARKET SERVICES LIMITED
Level 12, 680 George Street, Sydney, NSW 2000
Locked Bag A14, Sydney South, NSW 1235
Phone: +61 1300 554 474
Facsimile: +2 9287 0303
Email: enquiries@linkmarketservices.com

THIS PAGE IS INTENTIONALLY LEFT BLANK.

THIS PAGE IS INTENTIONALLY LEFT BLANK.

THIS PAGE IS INTENTIONALLY LEFT BLANK.

www.gentrack.com

---

GTKINTERIM RESULTS
HALFYEARTO 31 MARCH 2018

This presentation may contain forward-looking statements. Forward-looking statements often
include words such as ‘anticipate’, ‘expect’, ‘plan’ or similar words in connection with discussions of
future operating or financial performance.
The forward-looking statements are based on management’s and directors’ current expectations and
assumptions regarding Gentrack’s business and performance, the economy and other future
conditions, circumstances and results. As with any projection or forecast, forward-looking
statements are inherently susceptible to uncertainty and changes in circumstances. Gentrack’s
actual results may vary materially from those expressed or implied in its forward-looking statements.
This presentation includes unaudited financial information for the half year ended 31 March 2018.
IMPORTANT NOTICE
2

Our vision is to be the leading specialist provider of
business applications to energy and water utilities
and airports globally and we now proudly support
over 200 customers where our solutions are mission
critical, deeply embedded and highly valued.
EXPERTISE AND PASSION
MISSION CRITICAL SOFTWARE FOR ESSENTIAL SERVICES

•Secured contracts with two of the UK Big 6 energy suppliers
– E.ON and Npower
•Veovobrand launched to unify acquisitions under a global airports
business, as we deliver our highly differentiated predictive collaborative
platform for airports
•Gentrack Platform launched;providing ready made connectivity to a broad
ecosystem of applications and partners
•Continued development of our productised solutions for energy suppliers,
with successful projects in New Zealand, Singapore and the UK
•Almost 500 peopleacross the business at half year supporting customers in
36 countries
•Continued adoption of our SaaS model – with subscription pricing and
managed services offering.
HEADLINES – H1 FY18
4
Go brilliantly:
Go Veovo

12% growth
on H2 FY17
FINANCIAL HIGHLIGHTS
6% growth
on H2 FY17
34% growth
on H2 FY17
REVENUE
EBITDAN PATDIVIDEND
$52.0m
$15.9m$8.4m
5.0cps
80% growth
on H1 FY17
80% growth
on H1 FY17
50% growth
on H1 FY17
(NZ$m)
H1 FY18
Increased from
4.2cps H1 FY17
Dividend to be paid
on 25 June 2018
Comparisons to H2 FY17 are included to assist with interpretation as the three businesses acquired in April/May 2017 (Junifer, BLIP, CA+) did not contribute to the H1 FY17 result meaning H2 FY17 is a more relevant basis
to view the Group’s H1 FY18 performance.
5

COMPARATIVE RESULTS
23.3
28.9
46.2
52.0
0.0
10.0
20.0
30.0
40.0
50.0
60.0
H1 '16H1 '17H2 '17H1 '18
6.7
8.8
15.1
15.9
0.0
4.0
8.0
12.0
16.0
H1 '16H1 '17H2 '17H1 '18
3.8
5.6
6.3
8.4
0.0
2.0
4.0
6.0
8.0
10.0
H1 '16H1 '17H2 '17H1 '18
1
Underlying EBITDA, being earnings before net finance expense, income tax, depreciation, amortisation and non-operating costs. EBITDA is a non-GAAP measure –
refer to slide 15 for a reconciliation to reported net profit.
2
Cash at H1 FY17 of $13.4m is “normalised” for comparison purposes. Actual cash was $79.2m reflecting funding for acquisitionsmade in H2 FY17.
REVENUE
N PAT
EBITDA
1
(NZ$m)
Junifer, Blip, CA+ acquisitions
(April/May 17) contribute to
reported growth
•H1 FY18 vs H1 FY17:
- Revenue and EBITDA
1
up 80%
•Consecutive period comparison (H1
FY18 vs H2 FY17) is a more relevant
basis to view the Group’s H1 FY18
performance:
- Revenue up 12%
- EBITDA
1
up 6%
6

DIVISIONAL ANALYSIS
UTILITIES
H1 FY18
AIRPORTS (VEOVO)
H1 FY17
H1 FY18
$42.2m
$13.2m
$12.8m
$37.9m
$2.7m
$9.7m
H1 FY17
$2.2m
$8.3m
Strong H1 revenues for
Veovo, reflecting key wins
and projects at Belfast
International Airport,
Greenland Airports,
Ports of Jersey, Brisbane
Airport, Al Ghurair
and Schiphol Airport.
H2 FY17
H2 FY17
H1 revenues from the
utilities business reflects
significant projects in the UK
including E.ON, Npower
and ENGIE.
Completed smart meter
related projectsin Australia
and system deployments in
Singapore have also
contributed to a strong
H1 result.
$7.8m
$25.6m
$1.0m
$3.3m
7

GEOGRAPHIC ANALYSIS
8
H2 FY17
H1 FY18
No
Change
on H1 FY17
Up 314%
on H1 FY17
Up 11%
on H1 FY17
Up 61%
on H1 FY17
H1 FY17
H1 REVENUES BY REGION NZD$

REVENUE TYPE ANALYSIS
9
RECURRNG
REVENUES
Up 89%
on H1 FY17
H1 FY18 REVENUES BY TYPE AND H1 & H2 FY17 COMPARISON NZD$
NZD$

OUR PEOPLE – INTERNATIONAL GROWTH
10
H1 FY18
487
People numbers have
increased by 14% during
the half year and are
70% up on the same
period last year.
Focus on:
•rapid onboarding and
reducing time to value
•building a learning
organisation where our
people can build great
careers.
As at 31 March 2018
286
429
H1 FY17FY17

FY18 OUTLOOK
•Strong pipeline of opportunities in all markets
•Expect second half EBITDA performance to be broadly in line with
the first half
•Timing of key contract wins and project milestones are subject to
uncertainty
•Current trends and performance are consistent with our long term
target of 15% CAGR EBITDA growth
11

SCALABILITY AND SUSTAINABLE GROWTH
12
•Profitable growth in our existing markets
•Invest in ongoing productisation, delivery model and partner ecosystem
•Deliver cost effective cloud based solutions to enable our customers to
innovate at pace
•Active market watching - new geographies
•Continuing our track record of shareholder returns, through our dividend
policy of 70-80% of NPATA and conservative gearing.

APPENDICES
18

GAAP TO NON-GAAP PROFIT RECONCILIATION
14
Period
6 Months
31 Mar 18
unaudited
6 Months
31 Mar 17
unaudited
12 Months
30 Sept 17
audited
Reported net profit for the period (GAAP)
8,3645,56211,825
Add back:net finance expense/(income)1,475
(495)1,152
Add back:income tax expense3,1122,0915,611
Add back:depreciation and amortisation3,0141,2873,991
Add back: Non-operating (income)/expenses(67)3951,325
EBITDA
15,8988,84023,904